What is payment medium format in SAP FI-BL - Bank Accounting?

SAP Term: payment medium format

• Component: FI-BL

• Component Name: Bank Accounting

• Description: A format that controls how payment and debit memo orders for the bank are created. The payment medium formats are defined based on the format specifications as published by banks or central bank committees. &EXAMPLE& Document-based payment media: Bank transfer forms, Z1 forms Non document-based payment media: DME, EDI, or Internet payments Country-specific formats: ACH, DTAUS0 International formats: MT100, IDoc

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• Key Concepts: 
  Payment Medium Format (PMF) is a component of the SAP Financial Accounting (FI-BL) Bank Accounting module. It is used to define the format of payment media, such as checks, direct debits, and electronic payments. PMF also allows users to define the layout of payment documents, such as payment advice notes and payment orders.
  
  How to use it: 
  To use PMF, users must first define the format of the payment media they wish to use. This includes defining the layout of the payment document, such as the font size and type, as well as any additional information that should be included in the document. Once this is done, users can then create payment documents using the defined format.
  
  Tips & Tricks: 
  When defining a payment medium format, it is important to ensure that all necessary information is included in the document. This includes details such as the payee’s name and address, as well as any additional information that may be required by the bank or other financial institution. Additionally, it is important to ensure that all formatting is correct and consistent across all documents.
  
  Related Information: 
  For more information on Payment Medium Format (PMF), please refer to SAP’s official documentation on FI-BL Bank Accounting. Additionally, there are many online resources available that provide detailed tutorials and examples on how to use PMF.